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Latest News
42% of Canadians don’t have life insurance—are you one of them? Sep 13th
September is life insurance awareness month, and a new report from digital insurance provider PolicyMe in partnership with Angus Reid is spotlighting a concerning gap in coverage among Canadians. The culprits? Affordability concerns, medical requirements, and mistrust of the insurance industry, acco.... More »
So you fell short of your financial goals in 2025—here’s how to do better Dec 27th
Did you fall behind on your financial goals for 2025? If so, you’re not alone. According to a survey by online estate planning platform Willful, 58% of Canadians reported postponing financial tasks they’d earmarked for the year, such as paying down debt, contributing to registered savings and in.... More »
How to fund accessible home renovations in Canada Jul 7th
My house, as I told my insurance broker recently, is the Canadian housing equivalent of ancient. Built in the 1910s in Saskatoon, this house has many foibles. To hang pictures, I have to use wood screws lest regular nails bounce off of the layers and layers of paint. My basement is a little more tha.... More »
Statistics Canada reports real GDP up in January 2024 Apr 1st
Canada’s real gross domestic product grew 0.6% in January 2024, helped by the end of public sector strikes in Quebec in November and December, Statistics Canada said Thursday.
What is GDP?
Gross domestic product (GDP) is a statistic economists use to measure the total amount of goods and se.... More »
“A way to leapfrog”: AWS executive says regulated industries moving fastest on AI Jul 6th
As a wave of companies rush to embed artificial intelligence into their operations, Matt Wood has noticed the technology’s fastest adopters are businesses more typically described as slow to change.
Matt Wood, Amazon Web Services global VP of AI products (The Canadian Press / HO-Amazon Web Serv.... More »
Term vs. whole life insurance: Which type of policy is best?
– moneysense.ca
Term or whole life insurance? That is the question. But we have two more questions: What is the difference between these two types of policy? And which one is best for your needs?
Generally speaking, term life insurance is best for those seeking a low-cost, short-term solution. Whole life insurance may be best for you if you’re seeking a long-term solution with locked-in rates.
Below, we outline the pros and cons for each—and more.
Generally speaking, term life insurance is best for those seeking a low-cost, short-term solution. Whole life insurance may be best for you if you’re seeking a long-term solution with locked-in rates.
Below, we outline the pros and cons for each—and more.
Compare personalized quotes from some of Canada’s top life insurance providers*
The pros and cons of term life insurance
True to its name, term life insurance provides coverage for a set period of time—usually a 10-, 20- or 30-year term. Your premium costs stay the same throughout that period and may change when the term is over, if you choose to renew it. If you pass away during the term, a payment will go to your beneficiaries.
The pros: “Term life insurance is less expensive than whole life insurance,” says Adam Mitchell, president of Mitchell & Whale Insurance Brokers Ltd…
